Intertitle: What issue will case a crisis for the next President?
Robert Reich: The next President is probably going to have to deal with some very difficult economic times. The housing market is starting to look like a bubble. There’s a possibility of that bubble bursting. We’ve been there before.
Secondly, the middle class doesn’t have enough money in their pockets—nor, obviously, do the poor—to turn around and buy all of the things that the economy is capable of producing. So there is inadequate aggregate demand. That also creates huge fragility in the economy, and the global economy is not in very good shape.
Intertitle: What city should the next President visit?
Reich: Flint, Michigan; Detroit; Baltimore; Oakland. I mean, places where poor and working class and average people live. Also, just put Berkeley, California on the list somewhere, just because I’d like to take him or her out to lunch.
Introductory post about this series at Slate.